What's Going On With Nvidia Stock Monday?

Nvidia Corp NVDA stock is trading higher Monday amid reports of the U.S. planning to prevent American chipmakers from selling semiconductors to China that bypass government restrictions.

The new restrictions will apply to the preexisting U.S. restrictions on shipments of advanced chips and chipmaking equipment to China, Reuters cites familiar sources.

The U.S. plans to block some AI chips that fall just under current technical parameters while demanding companies report shipments of others. 

The efforts specially focused on Nvidia, which promptly released new variants, including the H800 chips for the Chinese market that were less sophisticated and got around the U.S. export controls over the H100 chip.

The AI kingpin also remained in the headlines for multiple positive developments as the company attempted to boost its prospects.

Nvidia co-founder and CEO Jensen Huang appeared at Taipei’s Ningxia Night Market on Sunday night, fueling speculation about his attendance at an upcoming Foxconn event. 

There has been speculation about a potential cooperation between Nvidia and Apple Inc AAPL partner Hon Hai Precision Industry Co Ltd HNHPF Foxconn, particularly in the field of servers. Liu Pei-Chen, from the Taiwan Institute of Economic Research, suggested that this focus would be ideal given Foxconn’s dedication to electric vehicle development.

Also, Nvidia bumped up the price of GeForce Now in Europe and Canada. Starting November 1, the GeForce Now will cost C$6 more in Canada, £2 more in the U.K., or an additional €2 in Europe per month for the must-have Ultimate plan. Six-month plans increase by C$20, £10, and €10, respectively. Nvidia doubled the prices twice in 2021.

Price Action: NVDA shares traded higher by 1.05% at $459.37 on the last check Monday.